Feb 28 2015
Kiska Metals Corporation ("Kiska" or the "Company") is pleased to announce that Teck Resources Limited ("Teck") has entered into an Exploration Agreement with the Tsay Keh Dene Nation and a Letter of Commitment and Agreement with the Takla Lake First Nation in regards to exploration at Kiska's Kliyul project (the "Property") in north-central British Columbia.
Teck can earn a 51% interest in the Property from Kiska by incurring a cumulative aggregate of $5.5 million in exploration expenditures on the Property on or before January 31, 2018. To date, Teck has spent approximately $765,000 in exploration and is currently planning a drill program to test the main "Kliyul Zone" during the 2015 exploration season.
"We are pleased with the engagement and commitments that Teck has developed in consultation with the Tsay Keh Dene Nation and Takla Lake First Nation. Kiska strongly believes in building early and beneficial relationships with local stakeholders in all of our exploration projects, and the progress to date at Kliyul is a step in the right direction," stated Kiska's President Grant Ewing. "Kiska is excited to see what the year holds for the Kliyul project."
Kliyul is a copper-gold porphyry project located 67 kilometres southeast of the past-producing Kemess Mine and lies adjacent to the Kemess Mine access road and power line. The Company owns a 100% interest in the 6,537 hectare property subject to a 1.5% NSR. The main area of interest on the property is the "Kliyul Zone", an 800 by 800 metre magnetic high anomaly tested by 21, mostly shallow (<125 metres below surface) drill holes completed prior to 1995. This shallow drilling returned significant copper-gold intercepts in a magnetite breccia, including 76.4 metres of 1.16 g/t Au and 0.33% Cu from 55.95 metres (KL-8). It should be noted that this intercept is from a historical drill hole (pre-1995) for which the original assay certificates and sampling protocols cannot be confirmed. The most recent drilling at Kliyul, in 2006, yielded encouraging copper and gold intersections from two deeper holes. In KL06-30, a 217.8 metre intersection averaged 0.23% copper and 0.52 g/t gold. KL06-31 returned a number of intervals of similar tenor highlighted by 24 metres of 0.20% copper and 0.44 g/t gold, 32 metres of 0.21% copper and 0.62 g/t gold and 20 metres of 0.14% copper and 1.21 g/t gold. These were the first deep drill holes drilled on the property and both ended in mineralization. To view figures of Kliyul please click on the following link http://www.kiskametals.com/i/maps/kliyul/2014-01-06_Kliyul_Maps.pdf
Qualified Person
The technical content of this document was reviewed and approved by Michael Roberts, Ph.D., P.Geo., Vice President of Exploration for Kiska Metals Corporation, a Qualified Person as defined by National Instrument 43-101. The Kliyul Property is an exploration property and does not contain any mineral resource estimates as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Kiska Metals Corporation
Kiska Metals Corporation is a prospect generator company with a diverse portfolio of gold and copper projects throughout North America and Australia. One of the more advanced assets is the Whistler property, Alaska, a district-scale gold-copper porphyry project that has excellent exploration potential. Kiska has numerous gold and copper projects available for option-joint venture as well as an extensive royalty portfolio.
On behalf of Kiska Metals Corporation
"Grant Ewing"
Grant Ewing, President & CEO
Source: http://www.kiskametals.com/